Updated almost 3 years ago on . Most recent reply
Write offs and qualifying for a loan
This question pertains to an investor who has limited income on w2. If after your write offs on your taxes you are at a loss on your rental property income ( the property has a mortgage) and the time comes where you are looking for your next deal will that loss not allow you to use 75% of rental income to offset the mortgage on the above rental on your credit ? Any insight on this is much appreciated. I am trying to figure out if i should go all in on the write off or will that work against me on qualifying for the next loan since my W2 income from my job is a limiting factor. Does getting a conventional vs private loan on that next deal make any difference with the above regarding income?
Thank you